Market View: November 18, 2011 Laguna Beach

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Median List Price

The median list price in LAGUNA BEACH this week is $1,800,000. Inventory has been decreasing lately but the Market Action Index is falling also. With days-on-market increasing, these are mildly negative iindicators for the market.

Supply and Demand

The market has been consistently cool for several weeks. Demand is low relative to available inventory. It’s a buyer’s market and prices continue to fall. Look for a persistent shift in Market Action before prices plateau or begin to rise again.

Price  

Again this week we see a downward tick in prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the market Action Index as a leading indicator for a trough in prices.